March 2008

Found 11 blog entries for March 2008.

As predicted, the Fed lowering short term rates on March 18 has had an adverse effect on long term rates. Risk based pricing efforts have increased among lenders as they are going to extreme lengths to reduce the likelihood of new loans going into default. It is far more difficult to get the best rates than it was only a month ago. Mortgage insurance companies are in the process of changing their criteria as well. Buyers can expect to have a difficult time obtaining mortgage insurance on conventional loans with a credit score below 620 and most 100% loan programs will require at least a 660 score.

As the market continues to search for its bottom, there are indicators that point to a gradual recovery. Consumers are now aware that the days of no doc or

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my florida safe home free wind inspections for elgible homeownersHurricane season is approaching and now is a good time to prepare your home for the storm season. My Safe Florida Home is a website that offers more information about wind inspections and how to schedule a free inspection.

This program was started by Florida to help homeowners identify weakness in their home and correct the problems before a storm hits the area. The state is hoping that these preventive measures will reduce the amount of damages and save lives if another storm hits.

Town Park homes built by the Johnson Group offer a safe room for your protection during a Florida storm. Call Kevin to learn more about this unique safety feature offered by a local builder in Port Orange, Florida.

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Affordable housing is now available in Port Orange for Palmer Chiropractic students. There are affordable options available that will allow you to build equity instead of wasting your money on rent. A few Port Orange home options include Villaggio On The Lakes, Whispering Creek, and attached homes in Coquina Cove and Pelican Bay.

Villagio On The Lakes home options start in the low 100's for a 1 bedroom 1 bathroom and increase slightly for 2 bedroom 2 bathroom options. This property is 3 stories and some units offer lake views. This gated condo property is definitely recommended.

Whispering Creek is located slightly farther from the Chiropractic School in Port Orange. Located towards the end of Airport Rd you will find this condo complex. Condo

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Are you looking for a newly constructed condo in Florida? Daytona Beach Shores, Florida, has quite the selection of quality condo buildings. Most buildings offer very luxurious amenities and fantastic beach front locations. Some ocean front condo building features include wood cabinets, floor to ceiling windows, granite counters, reserved parking spaces, 24 hour taped security, and very large balconies for entertaining. Each building is unique and provides a great atmosphere for ocean front living in Florida.

Daytona Beach Shores newly constructed condos that should be considered include:

  • Ocean Villas
  • Ocean Vistas
  • Sanibel
  • Palma Bella
  • Bella Vista
  • Marbella
  • Captiva
  • and more.


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The Ocean Villas in Daytona Beach Shores is one of the most luxurious condo buildings in the Central Florida area. This Diplomat unit offers million dollar views for almost half the price. Upon entry you will enjoy the breathtaking views of the ocean and river! Floor to ceiling windows will allow the new owners to enjoy great sunrises and sunsets.

View more Ocean Villas information.

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10 homes available in Port Orange for less than 200k. All of these homes were built after 2000 and have minimum 3 bedrooms and 2 bathrooms. Most of the residences have a garage too. These affordable homes are located inHorizons, Waters Edge, Skylake and more.


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This Grand Westminster has 5 bedrooms, 3 bathrooms, large garage, inground pool, and a very nice yard. The Waters Edge neighborhood is great for families and it's close to parks, schools, and I-95. This is a great price! Contact Kevin for more information.

This property is located close to Creekside Middle School and Cypress Creek Elementary School.

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Is a Reverse Mortgage the right choice?

A reverse mortgage was originally intended to help retirees live comfortable during their retirement years. This type of mortgage was intended for individuals over the age of 60. Now these reverse mortgages are being used for another reason, to help stop the foreclosure process.

A reverse mortgage is exactly what it sounds like. The bank will make payments to you based on the fact that the homeowner has a legitimate amount of equity in the home.

Are you considering a reverse mortgage? A few things to consider and review have been listed below:

  • Reverse Mortgages have super high fees that can range up to 7% of the loan amount. Fees can exceed $15,000!
  • The fees are high enough for some
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On the heels of a huge sell off of financial stocks on Monday, the Fed made a surprise announcement to increase the length of time banks can use funds through the "Fed Window". Keeping things simple, banks have longer to "pay back" the Fed on borrowed funds. This should help banks increase the amount of money available for loans with less risk to their shareholders. The Dow Jones Average was up over 400 points on Tuesday as a result.

People have been afraid to make big ticket purchases in times of uncertainty. Consumer confidence will need to be restored in order to begin to get America spending again. There is a Fed Meeting March 18, and there are signs that point to yet another rate decrease. If you are rate watching, next Tuesday and Wednesday are

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Short sales in Port Orange are popping up daily. I have noticed a few opportunities that may be attractive to the right buyer.

Villaggio On The Lakes has a few short sale options available. One that sticks out is the 3 bedroom 2 bathroom option. It's one of the largest units in that development and a buyer may be able to "snatch it up" at a great price if the bank agrees.

A few short sale opportunities have recently become avialable in Venetian Bay just outside Port Orange. Three properties come to mind. All three options are asking close to the 200k range. The bank may or may not accept an offer in that range, but it's definitely worth a try if you are a serious buy in that neighborhood.

Feel free to contact Kevin Kling if you would like help

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